Home equity borrowing rates fell for much of the last year, but will they drop again after the June Fed meeting?

Rates will stay in the 6.75% to 7.25% range unless the Fed signals multiple cuts soon and backs it up with data, said Nicole Rueth, of the Rueth Team with Movement Mortgage. "Homebuyers waiting on rates to drop drastically might be disappointed," Rueth said.

Mortgage rates seem to have a mind of their own — sometimes rising when you'd expect them to fall. Learn how the Fed rate affects home borrowing costs for smarter financial decisions, plus actionable tips.